WazirX Hits Legal Milestone After $234M Hack – What’s Next for the Exchange?

Fridah Kangai
September 30, 2025
4:00 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

WazirX faces crucial legal hurdles after $234M hack in 2024.
Singapore court proceedings will decide the future of WazirX.
WazirX aims for recovery as it navigates a legal battle.

Indian cryptocurrency exchange WazirX has achieved a critical legal milestone in its ongoing legal proceedings since the massive $ 234.9 million hack in July 2024. The exchange was able to file its legal submission on September 26, within the time limit given by the Singapore High Court. This application marks a significant step towards WazirX’s endeavor to address the aftermath of the hack and move forward with its reorganization.

Creditors on the case were ordered by the court to file corrected affidavits by September 19. The arm of WazirX in Singapore, named Zettai Pte Ltd, was requested to respond by September 22. Moreover, all parties concerned were required to submit their final written submissions by September 26. Such submissions are currently being considered, and the court will decide on the way forward.

📢 Update on Singapore proceedings

As directed by the Court, we have filed our legal submissions on Friday (26 Sept 2025). We now await the Court’s directions on the next steps.

We will share the next update as soon as the Court provides further directions.

We truly value your… pic.twitter.com/akjkxpyxRK
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) September 29, 2025

Also Read: Massive $773K Breach Hits Hyperdrive DeFi Platform, Security Flaw Identified

WazirX’s Recovery Plan and Legal Strategy

The hack, resulting in the theft of millions of dollars, also caused WazirX to go offline, putting the exchange in a potentially dangerous financial situation. To navigate this crisis, WazirX is seeking a scheme of arrangement to be presided over by the Singaporean courts.

It is a legal procedure that will cover the debts of the exchange and cooperate with creditors to fix the debts caused by the hack. This scheme involves WazirX, its creditors, and the court, all of whom are working together to ensure that claims are paid and the company begins to recover.

The future of WazirX hangs in the balance as it awaits the court’s final submissions. This company has committed to ensuring that it adheres to all legal requirements as it attempts to recover from this significant setback. The decision in this case will be crucial for the future of WazirX and its ability to continue operations and regain its user base.

Also Read: SUI Market Trends: A Prime Opportunity for Buy-the-Dip Strategy at $3